Chicago Water District Rating Upgraded

- The AA+ rating is a step up from the AA rating the MWRD received from S&P Global in 2021; Fitch Ratings also recently reaffirmed the district's AAA rating. These strong credit ratings allow the MWRD to borrow money at lower interest rates, saving taxpayers money on vital infrastructure projects. - Proceeds from bond sales will help fund the MWRD's extensive Capital Improvement Plan, which includes about $1.5 billion in expenditures from 2024 through 2028. Key project areas involve upgrades to water reclamation plants and solids management, as well as facility replacements. - A significant portion of the MWRD's work is focused on stormwater management and flood reduction through both traditional "gray" infrastructure like reservoirs and tunnels, and "green" infrastructure such as permeable pavements and rain gardens. Over the last decade, the MWRD has helped complete more than 125 green infrastructure projects, retaining over 20 million gallons of water during each rainfall. - This type of infrastructure investment can directly impact property values. Studies have shown that properties near major infrastructure projects, such as flood mitigation, can see a significant increase in value. This is a key consideration for real estate investors analyzing neighborhood-level opportunities. - The Chicago multifamily market is considered stable, with asking rents up 2.8% year-over-year at the end of 2024 and a vacancy rate of 5%. Workforce housing, in particular, shows durable demand, with a lower vacancy rate of 5% compared to 7.2% at higher-end properties in the fourth quarter of 2024. - For those looking to transition into real estate investment, firms typically seek candidates with 3 or more years of relevant commercial real estate or analytical experience, and strong financial modeling skills, including proficiency with Excel and Argus. Networking and building relationships with brokers are also considered crucial skills for sourcing off-market deals. - The broader Midwest housing market is expected to perform well, driven by relative affordability. In late 2025, 11 of the hottest housing markets were in the Midwest, attracting more views per listing than other U.S. metros. - The MWRD serves 5.19 million people across Chicago and 128 suburban municipalities, treating nearly 500 billion gallons of wastewater annually. Its extensive infrastructure includes seven water reclamation plants, 76.1 miles of navigable waterways, and 110 miles of deep tunnels as part of the Tunnel and Reservoir Plan (TARP).